I have a 2007 Ford Edge that the transmission slips like crazy until the wrench lite comes on. Then it upshifts and downshifts fine. It will not, however go into the final gear. It tachs about 4k at 45mph.
Take it in for service. Not going into top gear or overdrive will kill your fuel economy. It might just be low on fluid, dirty filter, or needs shift solenoids serviced. Could be something a little more expensive too, like worn torque converter and/or trans pump shaft.
Slipping usually means the trans clutch packs are shot. I would think the fluid is brown or black and not red, correct?
Initially I was thinking clutch packs, too but when the wrench lite comes on, the first 3 gears shift fine. The fluid was dark. It was changed when I replaced the OSS and TSS sensors to try to fix this issue. I also cleared the PCM and reprogrammed. It's like the transmission is being told not to shift.
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